Follows that ∆wh/wh= 80% and ∆wl/wl= –80%. the wage for low-skilled labor falls by 80% and that of high-skilled labor increases by 80%, when the price of r& d rises by 10%. c. what has happened to the relative wage of high-skilled/low-skilled labor? how does this result compare to problem 4, and explain why it is similar or different. with the wage for high-skilled labor going up, and the wage for low-skilled labor going down, it follows that the relative wage of high-skilled labor (wh/wl) also rises. equivalently, the relative wage of low-skilled labor, which is (wl/wh), falls. the change in the relative wages

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.